Confluence Investment Management LLC Has $7.76 Million Holdings in Hercules Capital, Inc. (NYSE:HTGC)

Confluence Investment Management LLC lifted its stake in Hercules Capital, Inc. (NYSE:HTGC) by 0.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 379,548 shares of the financial services provider’s stock after buying an additional 2,875 shares during the period. Confluence Investment Management LLC owned about 0.23% of Hercules Capital worth $7,762,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. increased its holdings in Hercules Capital by 51.7% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 71,029 shares of the financial services provider’s stock valued at $1,184,000 after purchasing an additional 24,221 shares in the last quarter. Blue Trust Inc. acquired a new stake in shares of Hercules Capital in the 4th quarter valued at $66,000. Global Retirement Partners LLC increased its stake in shares of Hercules Capital by 294.2% in the 4th quarter. Global Retirement Partners LLC now owns 4,785 shares of the financial services provider’s stock valued at $81,000 after buying an additional 3,571 shares during the period. International Assets Investment Management LLC increased its stake in shares of Hercules Capital by 1,567.0% in the 4th quarter. International Assets Investment Management LLC now owns 1,345,736 shares of the financial services provider’s stock valued at $22,433,000 after buying an additional 1,265,008 shares during the period. Finally, Arkadios Wealth Advisors increased its stake in shares of Hercules Capital by 5.8% in the 4th quarter. Arkadios Wealth Advisors now owns 54,741 shares of the financial services provider’s stock valued at $913,000 after buying an additional 3,000 shares during the period. 19.69% of the stock is owned by institutional investors and hedge funds.

Hercules Capital Price Performance

NYSE HTGC traded down $2.50 on Friday, hitting $18.81. 7,428,981 shares of the company’s stock were exchanged, compared to its average volume of 879,754. The stock has a 50-day moving average of $20.44 and a 200-day moving average of $19.07. The company has a current ratio of 2.47, a quick ratio of 2.47 and a debt-to-equity ratio of 0.93. Hercules Capital, Inc. has a 52 week low of $15.02 and a 52 week high of $21.78. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 8.55 and a beta of 1.39.

Hercules Capital (NYSE:HTGC) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.51. The company had revenue of $125.01 million during the quarter, compared to the consensus estimate of $124.99 million. Hercules Capital had a net margin of 57.82% and a return on equity of 18.22%. During the same period in the prior year, the business earned $0.53 earnings per share. Analysts expect that Hercules Capital, Inc. will post 2.06 earnings per share for the current year.

Hercules Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Tuesday, August 13th will be issued a $0.48 dividend. The ex-dividend date is Tuesday, August 13th. This represents a $1.92 dividend on an annualized basis and a yield of 10.21%. Hercules Capital’s payout ratio is 72.73%.

Insider Activity at Hercules Capital

In related news, Director Robert P. Badavas sold 13,300 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $19.69, for a total value of $261,877.00. Following the completion of the sale, the director now directly owns 4,234 shares in the company, valued at $83,367.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Robert P. Badavas sold 13,300 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $19.69, for a total value of $261,877.00. Following the completion of the sale, the director now directly owns 4,234 shares in the company, valued at $83,367.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert P. Badavas sold 1,700 shares of the stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $19.60, for a total value of $33,320.00. Following the completion of the sale, the director now owns 4,234 shares of the company’s stock, valued at $82,986.40. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

HTGC has been the subject of several research reports. Keefe, Bruyette & Woods lifted their target price on Hercules Capital from $18.00 to $19.00 and gave the company a “market perform” rating in a research note on Friday, May 3rd. Piper Sandler lifted their target price on Hercules Capital from $22.00 to $22.50 and gave the stock an “overweight” rating in a report on Friday. JMP Securities boosted their price target on Hercules Capital from $20.00 to $22.00 and gave the company a “market outperform” rating in a report on Tuesday, July 30th. Finally, Wells Fargo & Company boosted their price target on Hercules Capital from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $19.19.

About Hercules Capital

Hercules Capital, Inc is a business development company. The firm specializing in providing venture debt, debt, senior secured loans, and growth capital to privately held venture capital-backed companies at all stages of development from startups to expansion stage including select publicly listed companies and select special opportunity lower middle market companies that require additional capital to fund acquisitions, recapitalizations and refinancing and established-stage companies.